Share-Loan Insurance | St Patricks Credit Union | People Helping People
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Share Insurance:

Share insurance is a Life Assurance product and members’ shares up to €7,700 are insured. The level of insurance depends on the age of the member when the shares were saved:

In order to benefit from the maximum share insurance of €7,700 members should ensure that their share balance does not fall below this amount after the age of 55


100%

cover on all savings made before age 55 years.


75%

cover on all savings made between age 55 and 60 years.


50%

cover on all savings made between age 60 and 65 years.


25%

cover on all savings made between age 65 and 70 years.

Members do not lose cover after age 55. For example, if you save €4,000 before reaching 55, and die at 75 your beneficiary will still receive the €4,000 insurance plus the €4,000 savings provided that amount has been left in the Credit Union, and pro rata on any savings made after 55.

Loan Insurance